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Investors & landlords
It depends. You do not need to report the income as rental income if the tenant stayed there for 14 days. However, since you received a 1099 from the property management company, you are obligated to report the income. Here is my suggestion for reporting this. instead of reporting this as Schedule E income, please do the following.
- Log into or open your account
- Select Wages and income>other income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed on the 1099.
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‎February 20, 2024
10:42 AM